Accounting Rules

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All Steps at a Glance - Planning

Accounting Rules

Configuring Payments

Configuring Investments

Configuring Accruals and Deferrals

Configuring Contra Entries

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Additional Accounting Rule Options

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Glossary

The Accounting rules workspace is used for configuring rules for automatic contra entries. For each combination of data level and reporting entity, a journal exists in this workspace which contains all of the accounting rules for the respective combination pair.

In Lucanet, one-sided postings (only one account is addressed on the credit or debit side) can be made by means of Sheets or Excel using the keyword auto posting. However, since postings in Lucanet can only be saved if the credit side matches the debit side, an automatic contra entry must be made at the same time in case of a one-sided posting. This entry is made by the system using accounting rules that were defined for the corresponding accounts in the Accounting rules workspace. The system uses automatic contra entries in the following cases:

Data imports of import type

Automatic posting

Excel postings using the keyword

Auto posting

Sheets (except

Balance sheet adjustment

)

Posting with access to the account hierarchy

name of the general ledger

incl. subledgers (automatic posting)

Automatic contra entries can be used to plan only one profit and loss statement from which a planning balance sheet and a planning cash flow statement are automatically created by the system based on defined accounting rules.

The Accounting rules workspace can be found in the Overview under the Planning folder and is displayed as follows:

The screenshot displays the entire Lucanet window with the Accounting rules workspace selected — 'Accounting rules' workspace

The following formatting options are available:

Formatting	Description
red	Applies only to accounts, items or folders and it means they are not activated.
red + matt	The configuration of the superordinate item applies (the contra entry of the superordinate item is not activated).
black + bold	An accounting rule is defined for the general ledger, subledger, item or account.
grey	The configuration of the superordinate item applies (the accounting rule of the superordinate item is activated).

The general ledger, subledger(s), and statistical ledger(s) are always black, even if they are not activated.

The following accounting rule types are available:

The Payment accounting rule type is used for all accounts and items relating to business transactions with a cash flow impact. It is the most frequently occurring rule in the P&L.

The accounting rule type Payment is only available for accounts and items with the period type Transaction figure.

The Investment accounting rule type can be used to plan new investments and their depreciation/amortization. The configuration specifies the bank account, value-added tax and cash flow impact. Furthermore, the depreciation/amortization rule including the useful life and the accounts for the accumulated depreciation/amortization are determined on the balance sheet and the expense in the P&L.

The accounting rule type Investment is only available for accounts and items with the period type Balance with carry-forward from previous period.

The Accruals and deferrals accounting rule type is used for entering business transactions for the appropriate period in Lucanet. Using this accounting rule type, for example, it is possible to plan business transactions in which the services are purchased or sold in advance whereas the payment is made as a one-off payment in advance.

If the accruals and deferrals process is repeated at particular intervals and with a specific amount, then the planning can be repeated automatically. This is practical when recurrent business transactions are involved, e.g. insurance premiums that have to be paid annually in advance.

The accounting rule type Accruals and deferrals is only available for accounts and items with the period type Balance with carry forward from previous period.

The Contra entry accounting rule type is used for recording postings within or between P&L and balance sheet. This type of contra entry is used with depreciation in the fixed assets, for example.

Depreciations do not have a cash flow impact, but reduce the value of the fixed assets (accumulated depreciation) in the balance sheet, and thus require a contra entry.

The accounting rule type Contra entry is available for both accounts and items with the period type Balance with carry forward from previous period and Transaction figure.